Cryptocurrency markets rallied strongly in 2021 with Bitcoin, Ethereum, Dogecoin and other leading assets soaring to all-time highs. Markets began to decline at the end of 2021 and bearish grips continued well into 2022, testing investors' patience. 2023 is a stock of mixed cycles, as markets remain in a swinging trade in both directions. However, making a profit in these conditions is challenging as the window for making quick decisions to sell is narrow.
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Investors are waiting for the next bull run that could catapult prices and generate returns like it did in 2021. However, when will the next bull cycle begin? The question remains unanswered at this point. A leading cryptocurrency analyst has given a prediction that bull markets will begin in 2024.
Cryptocurrency Markets Will See A Bull Run In 2024, Analyst Says
Chris Burniskethe author of the book 'Crypto Assets' took to Twitter to predict that cryptocurrency markets will start to rally in 2024. He told his 262,500 followers that the rally will come only after the markets face another 20% to 40% drop. . prices this year.
โThe bears probably have one more chance of a 20% to 40% decline in cryptocurrency asset quality this year before the party starts for real next year until 2025. The question is at what prices will it start? that decline." predicted.
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According to Burniske, the catalyst for the cryptocurrency market decline is the aggressive stance of the Federal Reserve in raising interest rates. However, when inflation is under control and on track, cryptocurrency markets could recover, she said.
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Inflation in the US is now down to 3% and is much lower than expected. Starting in March 2022, the Fed raised interest rates with 10 consecutive adjustments to combat inflation. read here to find out if inflation in the US can fall below the 2% target in the coming months.
